Cigna Corporation (CI) Receives $182.06 Consensus PT from Brokerages
Cigna Corporation (NYSE:CI) has received a consensus recommendation of “Buy” from the nineteen analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $183.06.
CI has been the subject of a number of research analyst reports. ValuEngine downgraded Cigna Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Credit Suisse Group initiated coverage on Cigna Corporation in a report on Monday, June 12th. They set an “outperform” rating and a $185.00 price objective for the company. CIBC upped their price objective on Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, June 15th. Royal Bank of Canada restated a “buy” rating and set a $177.00 price objective on shares of Cigna Corporation in a report on Tuesday, June 13th. Finally, Bank of America Corporation upped their price objective on Cigna Corporation from $193.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, June 23rd.
In other news, Chairman Isaiah Harris, Jr. sold 247 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $185.27, for a total transaction of $45,761.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew G. Manders sold 24,357 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $175.01, for a total value of $4,262,718.57. Following the sale, the insider now owns 46,256 shares of the company’s stock, valued at $8,095,262.56. The disclosure for this sale can be found here. Insiders have sold 70,653 shares of company stock valued at $12,437,684 over the last 90 days. Insiders own 1.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in CI. BlackRock Inc. lifted its position in shares of Cigna Corporation by 2,335.5% during the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock worth $2,488,489,000 after purchasing an additional 16,289,943 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cigna Corporation by 40.8% during the second quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock worth $684,413,000 after purchasing an additional 1,184,632 shares during the last quarter. Waddell & Reed Financial Inc. lifted its position in shares of Cigna Corporation by 125.8% during the first quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock worth $256,306,000 after purchasing an additional 974,747 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Cigna Corporation by 9.3% during the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock worth $1,577,075,000 after purchasing an additional 913,991 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its position in shares of Cigna Corporation by 7,868.4% during the first quarter. Thrivent Financial For Lutherans now owns 708,390 shares of the health services provider’s stock worth $103,772,000 after purchasing an additional 699,500 shares during the last quarter. Institutional investors own 87.94% of the company’s stock.
Shares of Cigna Corporation (NYSE:CI) traded down 2.01% during midday trading on Friday, hitting $181.58. The stock had a trading volume of 1,546,638 shares. Cigna Corporation has a 12-month low of $115.03 and a 12-month high of $188.36. The stock has a 50-day moving average price of $179.84 and a 200-day moving average price of $165.56. The stock has a market cap of $45.72 billion, a P/E ratio of 20.95 and a beta of 0.43.
Cigna Corporation (NYSE:CI) last released its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.43. The business had revenue of $10.32 billion during the quarter, compared to the consensus estimate of $10.26 billion. Cigna Corporation had a return on equity of 17.40% and a net margin of 5.55%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.98 EPS. Equities analysts forecast that Cigna Corporation will post $10.02 earnings per share for the current year.
About Cigna Corporation
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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